Which of the following are investment strategies that may be associated with hedge funds? I. market neutral II. arbitrage III. distressed securities IV. short selling V. market timing Multiple Choice I, II, III and V I, II, IV and V I, III, IV and V II, III, IV and V I, II, III, IV and V In which order do the following steps in the private equity fund and venture capital fund investment process normally occur? 1. Valuation 2. Deal structure 3. Value creation 4. Deal flow 5. Exit Multiple Choice 4,1,2,3,5 2,4,1,3,5 4,1,3,2,5 2,4,3,1,5 2,3,1,4,5